Northern Trust Corp trimmed its holdings in shares of Griffon Co. (NYSE:GFF) by 3.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 395,093 shares of the conglomerate’s stock after selling 12,368 shares during the quarter. Northern Trust Corp owned 0.87% of Griffon worth $7,033,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in GFF. Piedmont Investment Advisors LLC purchased a new stake in Griffon in the second quarter worth $139,000. Acadian Asset Management LLC purchased a new stake in Griffon in the second quarter worth $150,000. OMERS ADMINISTRATION Corp purchased a new stake in Griffon in the second quarter worth $196,000. Tower Research Capital LLC TRC increased its position in Griffon by 444.7% in the second quarter. Tower Research Capital LLC TRC now owns 11,863 shares of the conglomerate’s stock worth $211,000 after buying an additional 9,685 shares during the last quarter. Finally, Cubist Systematic Strategies LLC increased its position in Griffon by 34.8% in the second quarter. Cubist Systematic Strategies LLC now owns 13,714 shares of the conglomerate’s stock worth $244,000 after buying an additional 3,542 shares during the last quarter. 66.48% of the stock is owned by institutional investors and hedge funds.

A number of analysts have issued reports on the company. Zacks Investment Research downgraded Griffon from a “hold” rating to a “sell” rating in a research report on Tuesday, November 27th. Sidoti reduced their price target on Griffon from $26.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, November 15th. Robert W. Baird reduced their price target on Griffon from $18.00 to $15.00 and set a “hold” rating for the company in a research report on Thursday, November 15th. JPMorgan Chase & Co. began coverage on Griffon in a research report on Tuesday, October 30th. They issued an “underweight” rating for the company. Finally, Goldman Sachs Group began coverage on Griffon in a research report on Tuesday, October 2nd. They issued a “neutral” rating and a $18.00 price target for the company. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. Griffon presently has an average rating of “Hold” and an average target price of $17.50.

In other Griffon news, Chairman Ronald J. Kramer acquired 29,997 shares of the company’s stock in a transaction that occurred on Monday, November 19th. The stock was bought at an average price of $12.12 per share, with a total value of $363,563.64. Following the completion of the purchase, the chairman now owns 2,280,933 shares of the company’s stock, valued at $27,644,907.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ronald J. Kramer acquired 19,997 shares of the company’s stock in a transaction that occurred on Friday, November 16th. The shares were acquired at an average cost of $12.20 per share, with a total value of $243,963.40. Following the purchase, the chief executive officer now directly owns 2,280,933 shares of the company’s stock, valued at approximately $27,827,382.60. The disclosure for this purchase can be found here. Insiders have purchased 95,044 shares of company stock valued at $1,156,164 in the last three months. 26.40% of the stock is owned by corporate insiders.

Shares of NYSE GFF traded down $0.47 during mid-day trading on Friday, hitting $11.19. The company had a trading volume of 137,075 shares, compared to its average volume of 193,741. The stock has a market cap of $532.57 million, a PE ratio of 14.72 and a beta of 1.58. Griffon Co. has a 1 year low of $10.15 and a 1 year high of $23.55. The company has a debt-to-equity ratio of 2.34, a quick ratio of 1.31 and a current ratio of 2.32.

Griffon (NYSE:GFF) last announced its quarterly earnings results on Wednesday, November 14th. The conglomerate reported $0.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.02. The company had revenue of $545.51 million during the quarter, compared to analysts’ expectations of $590.58 million. Griffon had a return on equity of 6.94% and a net margin of 6.35%. During the same period in the previous year, the business earned $0.36 earnings per share. On average, sell-side analysts predict that Griffon Co. will post 0.94 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 20th. Stockholders of record on Thursday, November 29th will be given a $0.0725 dividend. The ex-dividend date is Wednesday, November 28th. This is a boost from Griffon’s previous quarterly dividend of $0.07. This represents a $0.29 annualized dividend and a dividend yield of 2.59%. Griffon’s payout ratio is 38.16%.

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Griffon Company Profile

Griffon Corporation, through its wholly-owned subsidiaries, engages in home and building, telephonics, and plastic products businesses worldwide. Its Home & Building Products segment manufactures and markets long-handled tools and landscaping products for homeowners and professionals; and residential and commercial garage doors to professional dealers and home center retail chains.

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Institutional Ownership by Quarter for Griffon (NYSE:GFF)

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